Anti-money laundering laws will nail crims hiding cash
New Bill gets Cabinet go-ahead
tion, destroying lives in the process. Criminals seek to exploit the EU’S open borders and Eu-wide measures are vital for that reason.
“Ireland strongly supports the provisions in the Fifth EU Money Laundering Directive.”
Minister Flanagan also praised the efforts of the Criminal Assets Bureau.
He added: “CAB has had a very successful 2018 with a huge increase in its targets.
“Its operations make clear to criminals crime will not pay.
“I urge anyone with concerns people are benefitting from the proceeds of crime to contact CAB in confidence. “Likewise, I urge anyone with concerns about bribery and corruption to make use of the Garda confidential line.”
The Minister also said gardai will continue to target white-collar crime.
Among the new laws, it will target virtual currencies for terrorist financing and limiting the use of pre-paid cards. NEW sweeping anti-money laundering laws will help gardai target crooks using crypto currency to hide their cash.
The new Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 got the go-ahead from the Cabinet yesterday.
It will strengthen existing legislation and will give effect to provisions of the Fifth EU Money Laundering Directive.
Justice Minister Charlie Flanagan hailed the new Bill and said it
Mr Flanagan is an important step in controlling organised crime groups.
He said: “My message to criminals is clear – those engaging in corruption or money laundering in Ireland will not get away with their crimes.
“This is another important piece of legislation for tackling money laundering.
“The reality is money laundering is a crime that helps serious criminals and terrorists to func-